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Chinese yuan weakens on Wednesday

  •   Wed, Nov 18 2015 11:15:00 AM

Beijing, Nov 18 (IANS): The central parity rate of the Chinese currency renminbi (yuan) weakened by 56 basis points to 6.3796 against the US dollar on Wednesday, according to the China Foreign Exchange Trading System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by two percent from the central parity rate each trading day, Xinhua reported.

The central parity rate of the yuan is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
  

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Title: Chinese yuan weakens on Wednesday



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